Today: People’s United Financial Inc. (PBCT) Short Interest Down 4.4% in November

Today: People’s United Financial Inc. (PBCT) Short Interest Down 4.4% in November

People’s United Financial Inc. (NASDAQ:PBCT) saw a significant drop in short interest in November. As of November 15th, there was short interest totalling 40,615,532 shares, a drop of 4.4% from the October 31st total of 42,489,592 shares. Approximately 13.2% of the company’s stock are short sold. Based on an average trading volume of 4,450,456 shares, the short-interest ratio is currently 9.1 days.

Several equities analysts have recently commented on the stock. Piper Jaffray Cos. cut shares of People’s United Financial from a “neutral” rating to an “underweight” rating and set a $14.50 price target on the stock. in a research report on Wednesday, November 16th. Zacks Investment Research raised shares of People’s United Financial from a “sell” rating to a “hold” rating in a research report on Thursday, October 13th. Finally, Deutsche Bank AG increased their price target on shares of People’s United Financial from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Tuesday, October 11th. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $15.14.

In other news, Director Kevin T. Bottomley sold 7,000 shares of the stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $18.04, for a total transaction of $126,280.00. Following the transaction, the director now owns 133,906 shares of the company’s stock, valued at $2,415,664.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David K. Norton sold 15,495 shares of the stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $16.05, for a total transaction of $248,694.75. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

Several institutional investors have recently made changes to their positions in PBCT. Public Employees Retirement Association of Colorado raised its position in shares of People’s United Financial by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 9,965 shares of the company’s stock worth $158,000 after buying an additional 41 shares during the last quarter. Wade G W & Inc. raised its position in shares of People’s United Financial by 0.5% in the third quarter. Wade G W & Inc. now owns 13,748 shares of the company’s stock worth $217,000 after buying an additional 66 shares during the last quarter. Altfest L J & Co. Inc. raised its position in shares of People’s United Financial by 0.5% in the third quarter. Altfest L J & Co. Inc. now owns 13,242 shares of the company’s stock worth $209,000 after buying an additional 67 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of People’s United Financial by 0.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 22,500 shares of the company’s stock worth $329,000 after buying an additional 84 shares during the last quarter. Finally, Camelot Portfolios LLC raised its position in shares of People’s United Financial by 1.0% in the second quarter. Camelot Portfolios LLC now owns 11,154 shares of the company’s stock worth $164,000 after buying an additional 111 shares during the last quarter. Institutional investors own 79.76% of the company’s stock.

People’s United Financial (NASDAQ:PBCT) opened at 18.57 on Monday. The company has a market cap of $5.65 billion, a PE ratio of 20.41 and a beta of 0.74. People’s United Financial has a one year low of $13.62 and a one year high of $18.87. The firm has a 50-day moving average of $16.81 and a 200-day moving average of $15.81.

People’s United Financial (NASDAQ:PBCT) last released its quarterly earnings results on Thursday, October 20th. The company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.02. People’s United Financial had a net margin of 19.26% and a return on equity of 5.71%. During the same period last year, the firm earned $0.23 EPS. On average, analysts predict that People’s United Financial will post $0.91 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, October 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.66%. People’s United Financial’s payout ratio is 74.73%.

People’s United Financial Company Profile

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